Rental market snapshot for Phoenix, Arizona

Phoenix, Arizona Rental Property Market Overview

The average rent for an apartment in Phoenix is $1,967. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has decreased by -0.10% over the past year.

Phoenix is the capital of Arizona and the most populous city in the state. It is also the fifth most populous city in the United States, and is one of the fastest-growing cities in the country. Phoenix is home to a number of professional sports teams, including the Arizona Cardinals of the National Football League, the Phoenix Suns of the National Basketball Association, the Arizona Diamondbacks of Major League Baseball, and the Arizona Coyotes of the National Hockey League. The city also has a large number of parks and recreation areas, including the Phoenix Zoo, the Desert Botanical Garden, and the South Mountain Park and Preserve.

Last Updated December 23, 2022

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Average monthly rent graph in Phoenix Arizona | Cost of Living

  • The most expensive ZIP Code in Phoenix is 85028 with an average price of $2,450
  • The cheapest ZIP Code in Phoenix is 85009 with an average price of $900

Phoenix ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
185028$2,450
285048$2,450
385050$2,445
485085$2,400
585045$2,395
685086$2,305
785022$2,295
885054$2,249
985024$2,210
1085024$2,205

Live near Phoenix, Arizona's Top Sights and Attractions

Horseshoe Bend is a horseshoe-shaped incised meander of the Colorado River located near the town of Page, Arizona, in the United States. Horseshoe Bend is located 5 miles (8.0 km) downstream from Glen Canyon Dam and Lake Powell within Glen Canyon National Recreation Area, about 4 miles (6.4 km) southwest of Page. It is accessible via hiking a 1.5-mile (2.4 km) round trip from U.S. Route 89.

El Oso is a life-size bronze statue of a bear located in Phoenix, Arizona. The statue is located in a park and is a popular spot for photos.

The attraction is a large metal sculpture of a falcon in mid-flight. It is located in a park near the city center.

Cave Creek Wash Recreation Area is a recreation area located in Phoenix, Arizona. The recreation area is located along the banks of the Cave Creek Wash, and features a variety of amenities for visitors to enjoy. Amenities at the recreation area include a playground, picnic tables, a basketball court, and a walking trail.

Paradise Valley Park is a large city park located in the Phoenix, Arizona. The park features a wide variety of amenities including a playground, picnic areas, a basketball court, a volleyball court, a softball field, and a swimming pool. The park also has a large pond that is stocked with fish.

Lookout Mountain is a mountain in Phoenix, Arizona with a lookout point at the top. The mountain is a popular hiking destination and offers views of the city and surrounding desert.

Civic Space is a public park in the heart of downtown Phoenix. The park is home to a variety of events and activities throughout the year, and features a large lawn, a stage, a playground, and a splash pad.

Royal Palm Park is a beautiful park located in the heart of Phoenix, Arizona. The park features a large pond, lush gardens, and a variety of palm trees. Visitors can enjoy a variety of activities such as picnicking, fishing, and bird watching.

Phoenix, Arizona area median rent change by ZIP Code map

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How does Phoenix compare to other cities in Arizona ?

citymedian price
Flagstaff$2,792
Arizona City$1,575
Apache Junction$2,020
Chandler$2,275
Tolleson$2,070
Peoria$2,060
Gilbert$2,300
Gold Canyon$2,450
Fountain Hills$2,620
Sedona$2,950

Average household income in Phoenix area graph - US Census

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The median household income in Phoenix in 2021 was $60,914. This represents a 25.3% change from 2011 when the median was $48,596.

#categorypercent
0Less than $10,0005.5%
1$10,000 to $14,9993.7%
2$15,000 to $19,9993.7%
3$20,000 to $24,9994.6%
4$25,000 to $29,9994.4%
5$30,000 to $34,9994.9%
6$35,000 to $39,9994.7%
7$40,000 to $44,9995.0%
8$45,000 to $49,9994.4%
9$50,000 to $59,9998.3%
10$60,000 to $74,99910.7%
11$75,000 to $99,99913.0%
12$100,000 to $124,9998.5%
13$125,000 to $149,9995.6%
14$150,000 to $199,9995.9%
15$200,000 or more7.0%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
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